Bank of America and its subsidiary, Merrill Lynch, have reached a settlement with the Financial Industry Regulatory Authority over violations involving their supervisory systems, according to AdvisorHub. According to FINRA's letter of acceptance, waiver and consent,...
Representing financial professionals, financial institutions and investors in investment loss, employment and disclosure matters, and in regulatory investigations nationwide.
Month: September 2024
Financial advisor sues Ameriprise over alleged sexual advances by branch manager
A lawsuit has been filed against Ameriprise by a Florida-based financial advisor who alleges a branch manager made sexual advances when she sought a position with the firm. WealthManagement.com reported details of the suit filed by Deborah Lennon, who accuses...
Supervisor fined and suspended by FINRA over broker’s excessive trading
A supervisor with California-based Independent Financial Group (IFG) is being penalized over excessive trading by one of his brokers, AdvisorHub reports. The Financial Industry Regulatory Authority fined IFG's Vice President of Supervision Richard Mireles $5,000 and...
SEC charges broker-dealer First Horizon Advisors with Reg BI violations
A registered broker-dealer has been charged by the Securities and Exchange Commission with violating Regulation Best Interest (Reg BI), InvestmentNews reports. The SEC announced that First Horizon Advisors, Inc. agreed to pay a $325,000 civil penalty to settle charges...
Advisory firm charged with misleading investors regarding its investment strategy
The Securities and Exchange Commission announced that it has charged an Idaho-based investment advisor for making misleading statements and for compliance failures involving the execution of its “biblically responsible investing” strategy. In its news release, the SEC...
